Saturday, June 28, 2025
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

BoB admits system failure and accepts Nu 6.2 Million penalty

September 27, 2022
in Other Stories
Reading Time: 2 mins read
0
0
SHARES
90
VIEWS
Share on FacebookShare on Twitter

Admitting there was a system failure, the Bank of Bhutan says it accepts the penalty handed down by the central bank earlier this month. The Royal Monetary Authority slapped a fine of nearly Nu 6.2 M against the bank after BoB’s system shut down completely for almost three days earlier this month. The bank has submitted a justification for the failure and is awaiting the final response from the Central Bank regarding the penalty.

On September 6, the Bank of Bhutan failed to provide both online and offline services. The problem continued the next day. Following this, the central bank issued a notice to the BoB imposing the penalty.

As per the notice, the bank was penalised on the grounds of not doing timely corrective action and continuing the violation, repetition of similar violations and impact on financial stability among others.

Apologising to the clients, the bank admitted there was a failure and says it is accountable for the system errors.

BOB’s CEO, Dorji Kadin

“I would like to take this opportunity to apologise to all our valued clients for two days of a server failure that happened on the 6th or 7th. And with this, I think on the penalty I have no comments because they have penalised the bank based on the penalty rules and regulations that they adopted in 2022 July. Looking at the severity of the impact, I think we are liable to be penalised,” commented BOB’s CEO, Dorji Kadin.

BOB was asked to submit explanations to the central bank within a 14-day notice period which ended on September 21. The BoB has submitted the report to the RMA.

“Our request was because this was one of the incidences and not intentional because systems, we never know what is going to happen despite putting in so many measures in place. So, based on that we have submitted our justification. But we never know how the regulator will accept our explanation. So, we need to wait and then see what happens. And penalty amount may not change because they have done this based on the policy,” added the CEO.

The Central Bank imposed the penalty based on its Penalty Rules and Regulations 2022.

Samten Dolkar

Edited by Phub Gyem

Previous Post

RCSC’s yearlong Nurturing Leadership Programme ends

Next Post

Turning plastic waste into bags -Trongsa

Next Post

Turning plastic waste into bags -Trongsa

Portable toilet service for patients in Haa

HRH Princess Sonam Dechan Wangchuck attends State Funeral of late former PM of Japan

Please login to join discussion

RECOMMENDED NEWS

His Majesty grants farewell audience to parliamentarians

12 years ago
3
Egg price creeping higher, again

Egg price creeping higher, again

4 years ago
3
Deaths related to alcoholic liver disease increasing

Deaths related to alcoholic liver disease increasing

9 years ago
2
Landslide damages huts in Tronga

Landslide damages huts in Tronga

10 years ago
3

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (439)
  • Announcement (179)
  • Audience Survey Report (1)
  • Business (759)
  • Crime/Legal (370)
  • Culture (48)
  • Development (57)
  • Disaster (57)
  • Economy (289)
  • Education (419)
  • Entertainment (16)
  • Environment (66)
  • Feature (65)
  • Featured (6)
  • Festival (81)
  • GMC (14)
  • Headlines (5)
  • Health (630)
  • Legal (53)
  • Literature (9)
  • Livestock (76)
  • Media (26)
  • Other Stories (5,687)
  • Politics (419)
  • RCSC (1)
  • Recent stories (6)
  • Religion (45)
  • Sci/Tech (712)
  • Social (548)
  • Sports (456)
  • Technology (191)
  • Tourism (22)
  • Uncategorized (13,868)
  • Video (141)
  • Video Story (257)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
  • Post-mortem confirms foul play: Progress in investigation of 24-year-old woman’s death

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Lead exposure may be contributing to high anaemia levels among children in Bhutan
  • MoIT imposes moratorium on issuance of taxi driving licence
  • Book on temples and monasteries of Trongsa’s Drakteng wins Dzongkha Booker Prize
  • Shumar Cheden Tshephel Detshen becomes self-reliant with own milk processing unit
  • Fire risk from phones at fuel depot low but never non-existent

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.